In this month's legal updates, experts at law firm Gateley plc consider a breach of duty by a company’s directors at Quindell, plans for revised corporate governance code published
Plans for revised corporate governance code published
The Financial Reporting Council (FRC) has published its proposals for a revised UK Corporate Governance Code. Having undertaken a ‘comprehensive review’ of the existing Code, the resulting ‘revised, sharper and more concise Code’ will focus on the application of principles relating to stakeholders, integrity, corporate culture and diversity.
The revised Code will apply to all premium-listed companies and the exemptions for companies below the FTSE 350 will no longer apply as the FRC is keen for smaller companies to strive for high standards of internal governance. The revised Code will also apply to those companies that have voluntarily adopted the Code.
